Itec final exam questions & answers
5 fundamental objectives of a purchasing agent - ANSWERSRight
- quality
- quantity
- time
- price
- source
Step one in purchasing cycle - ANSWERSIdentify or anticipate material and service needs
Step 2 in cycle - ANSWERSevaluate suppliers
step 3 in cycle - ANSWERSselect suppliers
step four in cycle - ANSWERSrelease and recieve purchase requirements
step 5 in cycle - ANSWERSContinuously measure and manage supplier performance
Requisitions - ANSWERSmethod used to inform purchasing of material needs
Maverick spending - ANSWERSas the external vendor spend which doesn't follow the defined
purchasing policies.
preferred supplier - ANSWERSare the first suppliers to be approached when business needs
arise, and, for the most part, don't have to compete for the business
5 fundamental objectives of a purchasing agent - ANSWERSRight
- quality
- quantity
- time
- price
- source
Step one in purchasing cycle - ANSWERSIdentify or anticipate material and service needs
Step 2 in cycle - ANSWERSevaluate suppliers
step 3 in cycle - ANSWERSselect suppliers
step four in cycle - ANSWERSrelease and recieve purchase requirements
step 5 in cycle - ANSWERSContinuously measure and manage supplier performance
Requisitions - ANSWERSmethod used to inform purchasing of material needs
Maverick spending - ANSWERSas the external vendor spend which doesn't follow the defined
purchasing policies.
preferred supplier - ANSWERSare the first suppliers to be approached when business needs
arise, and, for the most part, don't have to compete for the business
